About the Company:
Founded in 1981, Emcure Pharmaceuticals Limited has grown into a leading player in the Indian pharmaceutical industry. The company is engaged in the development, manufacturing, and international marketing of a wide range of pharmaceutical products. Over the years, Emcure has established a robust presence across various major therapeutic areas.
Market Position and Performance
As of MAT September 2023, Emcure Pharmaceuticals ranks 13th in domestic sales among Indian pharmaceutical companies. During this period, the company holds the fourth largest market share within its covered markets. Emcure is recognized as the top pharmaceutical company in the gynecology and HIV antiviral segments.
Manufacturing Capabilities
Emcure Pharmaceuticals operates 13 manufacturing facilities across India. These facilities are equipped to produce a diverse range of pharmaceutical and biopharmaceutical products, including tablets, liquids, injectables, and complex ingredients such as chiral molecules, iron molecules, and cytotoxic substances.
Distribution Network:
As of September 30, 2023, Emcure's marketing and distribution network in India is supported by over 5,000 field personnel who engage with healthcare providers regularly. The distribution network comprises over 5,000 stockists, serviced by 37 carry-and-forward agents.
Objectives of the IPO:
The primary objectives of the IPO include:
- Repayment and prepayment of outstanding borrowings
- General corporate purposes
Summary of Financial Information:
| Period Ended | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
|---|---|---|---|
| Assets | 7,806.16 | 6,672.53 | 6,063.47 |
| Revenue | 6,715.24 | 6,031.72 | 5,918.86 |
| Profit After Tax | 527.58 | 561.85 | 702.56 |
| Net Worth | 2,952.28 | 2,501.13 | 1,987.55 |
| Reserves and Surplus | 2,722.40 | 2,293.77 | 1,791.03 |
| Total Borrowing | 2,091.94 | 2,202.42 | 2,102.19 |
Comparison with Listed Peers:
| Company Name | P/E (x) | P/B | ROE (%) |
|---|---|---|---|
| Emcure Pharmaceuticals Limited | 37 | 6 | 21.27 |
| Dr. Reddy's Laboratories Limited | 17.93 | 3.54 | 19.74 |
| Cipla Ltd. | 30.1 | 4.64 | 15.43 |
| Alkem Laboratories Ltd | 33.86 | 5.9 | 17.41 |
| Torrent Pharmaceuticals Ltd. | 57.74 | 13.95 | 24.15 |
| Mankind Pharma Limited | 45.3 | 9.24 | 20.43 |
| Abbott India Ltd. | 47.43 | 15.4 | 32.48 |
| J. B. Chemicals & Pharmaceuticals Limited | 50.49 | 9.34 | 18.9 |
Key details of the IPO:
IPO Dates: 3 to 5 July 2024
Price Band: Rs. 960 to Rs. 1008 per share
Lot Size: 14 shares
Listing Date: 10 July, 2024
Total Issue Size: Rs. 1952.03 Cr. (Fresh Issue: Rs. 800 Cr.)
Retail Quota: 35%
GMP: Rs. 285 (Only for information purposes.)
Note: For additional information & risk factors please refer to the Red Herring Prospectus
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Disclaimer: We are not SEBI registered. All the views are personal and only for educational purposes. Do your due diligence before making any trading or investing decisions. The data provided in this blog post is for illustrative purposes only and does not constitute financial advice. Always consult with a qualified financial advisor before making investment decisions.
